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ASCSN TRANSACTION: Unity Bank Acted with Authority of Customer

Published

3 years ago

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The attention of the Bank has been drawn to the action of Association of Senior Civil Servant of Nigeria (ASCSN) in Abeokuta. Going by all available records regarding the ASCSN account and transactions, Unity Bank hereby states that there’s completely no wrong doing on the part of the Bank who acted professionally in the interest of the Association. 
 
Till date, the Bank has thus carried out all financial transactions in line with the mandate, instructions and authority of the customer (ie the Association of Senior Civil Servant of Nigeria). 
 
Until proven otherwise, the Bank can therefore not be held liable for any complaints of  ASCSN since the instructions for the transfer of the sum of money totalling N54.8m were duly authorised by the association. 
 
The Bank, in carrying out the transactions sent sms notifications as well as rendered periodic account statements of the financial activity on the account. 
 
The Bank wishes to advise members of ASCSN to await the outcome of the reconciliation to determine if the mandate upon which the Bank acted fails to tally with the authorised signatories submitted by the association. 
 
The CBN is aware of the issues and we held meeting with them last Friday but the people picketing the Bank are merely embarking on a needless smear campaign instead awaiting outcome of the reconciliation process.
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